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Question 953992: Sarah invests money in two simple interest accounts. She invests twice as much in an account paying 12% as she does in an account paying 6%. If she earns $97.50 in interest in one year from both accounts combined, how much did she invest altogether?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Sarah invests money in two simple interest accounts. She invests twice as much in an account paying 12% as she does in an account paying 6%. If she earns $97.50 in interest in one year from both accounts combined, how much did she invest altogether?
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Equations:
Quantity Eq:: t = 2s
Interest Eq:: 0.12t + 0.06s = 97.5
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Modify and substitute:
0.24s + 0.06s = 97.50
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30s = 9750
s = $325.00 (amt. invested at 6%)
t = 2s = $650.00 (amt. invested at 12%)
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Cheers,
Stan H.
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